Think about how and why goods and resources are scarce. Goods and resources can be scarce for reasons that are inherent to their nature at all times, temporary or seasonal, or that are artificially...

Think about how and why goods and resources
are scarce. Goods and resources can be scarce
for reasons that are inherent to their nature at all
times, temporary or seasonal, or that are artificially created. Separate the goods listed below into two groups; indicate which (if any) are artificially
scarce (AS), and which (if any) are inherently
scarce (IS). [LO 1.1]
a. air of any quality
b. land
c. patented goods
d. original Picasso paintings